Market Research Report
Construction in Finland - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||270377|
|Published||Content info||44 Pages
Delivery time: 1-2 business days
|Construction in Finland - Key Trends and Opportunities to 2024|
|Published: November 3, 2020||Content info: 44 Pages||
Finland's construction industry grew by 0.6% in 2019, with the industry's output value increasing from US$42 billion in 2018 to US$42.3 billion in 2019. Growth during the review period (2015-2019) was driven by positive developments in regional economic conditions and the government's investment in energy, residential and institutional construction projects. However, with the emergence of the pandemic and the stringent measures taken by the government to contain the spread of the COVID-19 (COVID-19), the construction industry is now set to contract by 1.7% in 2020.
Although the industry is expected to remain weak in 2020, the industry's output will be supported by the government's focus on the development of the country's transport and energy infrastructure. According to Statistics Finland, the construction industry's value-add declined by 0.1% in the first six months of 2020 (the latest data available at the time of writing), compared to same period in 2019.
Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, GlobalData forecasts the construction industry to contract by 1.7% and 0.4% in 2020 and 2021, respectively, but is thereafter forecast to grow at an annual average rate of 1.8% during the period of 2022-2024. This growth will be supported by the government's focus on developing the country's transport infrastructure. The government also aims to phase out coal-based power plants in the country by 2029, and to become a carbon neutral country by the year 2035, which will also drive industry growth.
This report provides detailed market analysis, information, and insights into the Finnish construction industry, including -
This report provides a comprehensive analysis of the construction industry in Finland. It provides -